Air, Freight News

IAG Cargo half year revenue drops 28.5%

[ July 28, 2023   //   Chris Lewis ]

IAG Cargo has reported commercial revenues of €603 million for the first half of 2023 (1 January to 30 June), a 28.5 % decrease year-on-year but an increase of 8.5% versus the same period before the pandemic in 2019. Yields for H1 2023 were below those of H1 2022, tonnage was up 6.5%, and 15.3% lower in comparison to H1 2019.

Chief executive David Shepherd, said:“While the operating environment has changed significantly in recent months, and the air cargo industry normalises following the pandemic, our primary efforts in the first half of the year have been dedicated to implementing essential transformation. This has included investing in our facilities, operations, and senior leadership team to ensure that we are in a strong position to adapt to the changing market. As well as opening our New Premia operation at Heathrow, we have focused on improving operational processes to make better use of our capacity.”

IAG Cargo continued to reintroduce services, including between London to Beijing and Shanghai as well as increasing frequency to Hong Kong and Japan.

Tags: IAG Cargo